Tesco have announced plans to form a long-term 'strategic alliance' with French company Carrefour. Carrefour is one of the largest hypermarket chains in the world, operating 12,300 stores across 30 countries and employs almost 375,000 people worldwide.. @Tesco and @CarrefourGroup to create long-term strategic alliance: https://t.co/lC3FDYkVBE — Tesco News (@tesconews) July 2,...
Royal Mail have reported a drop in nine-month revenue with weaker than expected performance in its letters business. Letter volumes fell by 8% with revenue from letter delivery falling by 6%, offsetting a 6% rise in parcel revenue. Royal Mail said the fall in...

M&S closing 17 more stores

Marks & Spencer have named a further 17 stores due to close as part of its restructuring plan, which will see 100 stores close by 2022. The closures puts 1,045 jobs at risk with M&S saying it will enter consultations with its employees with...
Mothercare has announced plans to close fifty stores as part of a rescue plan. The closures could result in the loss of at least 800 job losses throughout the UK. The restructuring plan, known as a Company Voluntary Agreement or CVA will secure funding of £113 million and result in the closure...
A merger worth £13 billion between Sainsbury's and Asda  has been confirmed by Sainsbury who plan to merge with Asda which is owned by Walmart. Mike Coupe, Chief Executive of Sainsbury's, has said the deal would not result in store closures or job losses. As a result of the merger the...
Shares in John Laing Infrastructure Fund (JLIF) have soared by more than 18 per cent this morning after news of a possible buyout of the company. JLIF is one of Europe’s largest listed infrastructure funds, with a Premium Listing on the FTSE 250. The Board of JLIF and a consortium which comprises Dalmore...
Royal Bank of Scotland (RBS) profits have more than doubled in 2018 to £1.62 billion, an increase of £870 million from last year, with a pre-tax profit of £3.36 billion. It represents a massive turnaround for RBS since the £45.5bn Government bailout in 2008....
Princess Yachts, one of the UK's largest luxury yacht manufacturers, has recorded a record year with turnover of £340m, an increase of 24%. In the year to 31 December 2018, operating profit was up a massive 173% at £29.8m. Antony Sheriff, executive chairman of...

Tesco Direct closing down

Tesco has announced plans to close its non food website, Tesco Direct, on 9 July 2018. Tesco Direct sells a range of general merchandise, including technology, homeware, clothing and toys for delivery or collection. Approximately 500 jobs across the business will be at risk of redundancy. Tesco Direct has faced a...
Underlying profit before tax increased by 10 per cent to £141.6 million Statutory profit before tax increased to £127.2 million, Underlying total income increased by 5 per cent to £343.0 million Virgin Money have reported a 10 per cent increase in underlying profits for the half year to 30...
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